Malaysia Specialty Chemicals Market to be Dominated by Surfactants Segment through 2028
Malaysia
specialty chemicals market is expected to grow in the forecast period,
2024-2028 due to the growing use in agrochemicals.
According
to TechSci Research report, “Malaysia Specialty Chemicals Market- By
Region, Competition, Forecast and Opportunities, 2028”, Malaysia
specialty chemicals market size is anticipated to increase at a substantial
rate in the forecast period. A significant factor fueling the growth
of Malaysia specialty chemicals market due to increasing utilization
of specialty chemicals as industrial and institutional cleaners. These
cleaners are the largest industrial consumer of surfactants as used in
general-purpose cleaning, commercial floor, surface, and where ease and
efficiency, hygiene, technical performance, and food safety are important
characteristics. Along with it, specialty chemicals have a wide
application in different sectors, including rising demand of specialty
chemicals for water treatment including water softening, demineralization
plant, multigrade filter, reverse osmosis, micro biocides, pH reducer, bio
dispersant, corrosion cum scale inhibitor, antiscalant, and antifoulant.
Moreover, the demand for smart paints and coatings that can counter the effects
of weather on building construction is expanding, thus boosting the demand for
dyes and pigments which propels the growth of Malaysia specialty chemicals
market.
For
instance, Chemkimia Sdn.Bhd. is a manufacturer and distributor of
specialty chemical products for industrial water treatment and plant processes.
Furthermore,
the market is being stimulated by increasing demand for agrochemicals,
construction chemicals, dyes & pigments, personal care active ingredients,
and textile chemicals.
However,
crude oil price fluctuation and stringent regulatory policies regarding specific
chemicals used in environments can be negatively impacted or adversely affected
restraining the market growth. Also, rise in the production cost as well as
competition from the availability of less expensive conventional counterparts
of specialty chemicals further slowdown the market growth.
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Malaysia Specialty
Chemicals Market is segmented based on
application and region.
Based on application, the market is
categorized into construction chemicals, dyes & pigments, agrochemicals,
surfactants, and others. Agrochemicals segment is expected to hold the largest
market share in the forecast period. It is due to an increase in demand
for food products as well as its consumption, and decreasing availability of
agricultural land for crop production.
Major companies
operating in the Malaysia specialty chemicals market are:
- BASF (Malaysia) Sdn. Bhd.
- Dow Chemical Pacific Ltd
- PETRONAS Chemicals Group Berhad (PCG)
- Clariant (Malaysia) Sdn Bhd
- Eastman Chemical (Malaysia) Sdn Bhd
- Evonik Malaysia Sdn Bhd
- Hextar Global Berhad
- Azelis Malaysia Sdn. Bhd.
- Suka Chemicals (M) Sdn Bhd
- DKSH Holdings (Malaysia) Berhad
- Clariant (Malaysia) Sdn Bhd
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“Malaysia
specialty chemicals market has seen significant growth in recent years, driven
by the increasing use of specialty chemicals in the food & beverage
industry as food additives and enhancers, which enable the mass production of
safe, flavorful, nutritious, and visually appealing foods and beverages as well
as these chemicals are used as in the production of personal care products
including hand sanitizers, liquid soaps, disinfectant sprays, and contaminant
wipes. Moreover, these
chemicals are used in the automotive industry to maintain and protect cars and
trucks, as these include brake fluid, antifreeze, rust inhibitors, radiator
seals, engine and transmission additives, auto cleaners, polishes, and waxes
resulting in creating huge prospects of market growth during the
forecast period.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Malaysia Specialty Chemicals Market, By Application
(Construction Chemicals, Dyes & Pigments, Agrochemicals, Surfactants, and
Others), By Region, Competition, Forecast and Opportunities, 2028F”, has
evaluated the future growth potential of Malaysia specialty chemicals market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Malaysia specialty chemicals market.”
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